Some of you may know that I'm a fan of John Robb's work over at Global Guerrillas. His thesis that transnational actors are working to hollow out nation states is proving to be more accurate with each passing day. Check out this news item on how Goldman Sachs has appropriated Greece's wealth:
Goldman bankers possess asymmetric information, i.e., they are probably more well informed of the workings of financial markets than Greek civil servants who are overpaid just to make it through the day. When this trend reaches full bloom here in the U.S., we can expect to see bridges and toll roads owned and operated by investment firms. Ownership of municipal assets will be auctioned off by your bankrupt city and state governments to feed their employee unions' pension funds.
If you can't beat 'em, join 'em. I'd like to get in line to buy some publicly owned assets. The Golden Gate Bridge would look great with the Alfidi Capital logo on it.
Nota bene; Anthony J. Alfidi has no investment position in Goldman Sachs or Greek debt at this time.
The bankers, led by Goldman’s president, Gary D. Cohn, held out a financing instrument that would have pushed debt from Greece’s health care system far into the future, much as when strapped homeowners take out second mortgages to pay off their credit cards.
Athens did not pursue the latest Goldman proposal, but with Greece groaning under the weight of its debts and with its richer neighbors vowing to come to its aid, the deals over the last decade are raising questions about Wall Street’s role in the world’s latest financial drama.
Goldman bankers possess asymmetric information, i.e., they are probably more well informed of the workings of financial markets than Greek civil servants who are overpaid just to make it through the day. When this trend reaches full bloom here in the U.S., we can expect to see bridges and toll roads owned and operated by investment firms. Ownership of municipal assets will be auctioned off by your bankrupt city and state governments to feed their employee unions' pension funds.
If you can't beat 'em, join 'em. I'd like to get in line to buy some publicly owned assets. The Golden Gate Bridge would look great with the Alfidi Capital logo on it.
Nota bene; Anthony J. Alfidi has no investment position in Goldman Sachs or Greek debt at this time.
